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How to Appraise a Rare Coin

Rare coins are coins that are either no longer produced, produced in small numbers or otherwise in minimal circulation. Usually, rare coins are the coins that collectors want to get their hands on. When looking at a rare coin, having a basic understanding of appraisal process can help you avoid paying too much for it. The value of rare coins are often higher than the coin's face value, but retail prices are sometimes marked up beyond their real worth.

Things You'll Need

Gloves
Magnifying glass
Jewelers tray
Light source
Coin reference book

Instructions

- 1
  Put on the gloves. The U.S. Mint suggests soft cotton gloves for handling rare coins to avoid scratching or damaging the coins.
- 2
  Place the coin on the jeweler's tray, which is a soft tray designed to prevent damage to soft metals. Place the tray under a good light source. Direct light is necessary to see any flaws.
- 3
  Look at the coin through a magnifying glass. Look for scratches or damage to the coin. Scratches and damage bring down the value of the rare coin. The U.S. Mint has a page on its website designed to show the coin grading scale based on coin wear and tear. Grading has some influence on the overall value, though the rarest coins will be worth a lot even when damaged.
- 4
  Look in a coin reference book. According to the U.S. Mint, a coin reference book should contain information that includes the dates of the coin, the varieties of the coin produced, grading for the coin, overall value and value related to the grading and the marks from the mint. The coin reference book helps determine the ultimate appraisal value of the coin.

Coin Collecting